Houses near Villa Park in Birmingham have soared in value by a whopping 126 per cent in 10 years, a survey has revealed.

Only homes near Manchester City’s stadium – in a regenerated area – have risen more in the Premier League, according to the Halifax building society.

The average cost of a house near the Etihad Stadium, in Manchester’s Eastlands district, is more than £79,000 compared to just £21,000 in 2002 – a 271 per cent increase.

Property values near Villa Park have risen more than prestigious London postal districts surrounding Fulham and Chelsea, seaside Southampton and the rural Norfolk city of Norwich.

In 2002 the average price of a property near Villa Park in the Aston, Perry Barr and Witton districts, was £43,387. In the ten years since this has rocketed to £97,870.

Just a few miles away, near West Bromwich Albion’s Hawthorns stadium, average house prices stood at £62,806 in 2002. They have now surged by 96 per cent to an average cost of £123,104.

Martin Ellis, housing economist at Halifax, said: “House prices close to the nation’s most iconic football stadiums have risen substantially over the past decade, particularly in the areas near to some of the newer venues.

“This partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links.”

However, Mr Ellis pointed out the high prices around football clubs means many locals or football fans might be priced out of the market.

“The rise in property values does come at a cost, with home affordability deteriorating significantly over the last ten years for those hoping to live near their favourite football ground,” he warned.

The average house price of £362,866 in Premier League stadium postal districts is £133,131 higher than the average for England and Wales.